Regulation
Despite numerous changes to the Consumer Financial Protection Bureau's final rule on Section 1071 of the Dodd-Frank Act, lenders worry that expenses associated with reporting small-business lending data will cause smaller institutions to end their underwriting programs.
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The Consumer Financial Protection Bureau issued a broad policy statement on what constitutes an "abusive" act or practice. Industry has long sought to narrow the definition.
April 3 -
Banks have been reclassifying their losses to avoid taking steep write-downs that could be helping them stay in business.
March 31
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The regulation — mandated more than a decade ago to combat discrimination — will make lenders provide data on approvals and denials of small-business loan applications, the cost of credit and demographics of borrowers.
March 30 -
The Federal Reserve and Treasury Department fined the San Francisco-based bank for allegedly helping a foreign bank skirt sanctions on more than half a billion in transactions between 2010 and 2015.
March 30 -
The Consumer Financial Protection Bureau plans to issue a small business data collection rule this week, more than a decade after it was mandated by the Dodd-Frank Act to collect data on all small business credit applicants.
March 27 -
The use of the Federal Reserve's emergency lending facilities was largely unchanged this week, indicating to some that the recent liquidity crisis isn't getting any worse.
March 24 -
The Office of Financial Research — a Treasury agency tasked with examining sources of systemic financial risk — published a report that found that full integration of a central bank digital currency could hurt banking-sector stability but offers significant benefits for consumers.
March 22 -
In his new role as chief operating officer, Selva will take the reins of a multiyear initiative to improve internal controls. Those efforts, which followed regulatory scrutiny, were previously led by longtime banker Karen Peetz, who plans to retire in May.
March 22 -
Carrie Tolstedt, the former head of retail banking at the scandal-plagued bank, faces 16 months in prison after agreeing to plead guilty to obstructing a bank examination. The plea agreement serves as a warning to senior bank executives who regularly provide information to regulators.
March 21
